Hale Wants Arena

On WBAL's Jimmy Mathis Show, Ed Hale talked about why he is no longer associated with First Mariner Bank, as well as an offer to buy the Baltimore Arena. Download This File

Baltimore Blast owner Ed Hale says he wants to buy the Baltimore Arena, where the team plays its home games.

Hale though told WBAL's Jimmy Mathis that his offer has been rejected, noting that his relationship with City Hall is strained, due in part to a lawsuit his company filed in March over ownership of billboards around the arena.

Hale claims he owns the billboards. The city claims otherwise.

Hale said he made the offer about a month ago, and only received a letter rejecting the offer, earlier this week.

"I said to them, 'why don't we in order to end the hostilities, why don't you sell me the arena,' " Hale said on the WBAL's Jimmy Mathis Show.

"I never got a response for quite a while, and then they just sent a very terse thing that said the arena is not for sale. I wanted to talk to them, but they didn't want to talk to me."

Hale said if he'd own the arena, he would refurbish it.

Hale founded First Mariner Bank in 1995, but left the bank in 2011. Until this year, the arena was known as the First Mariner Arena. The arena's management company is looking for a new corporate sponsor.

A spokeswoman for Mayor Stephanie Rawlings-Blake told WBAL News that the city is reviewing a proposal from the Greater Baltimore Committee to build a new arena, along with an expanded Baltimore Convention Center.

"The city is happy with the arena's current manager and has renewed its contract. It is currently not for sale, but if that changes, we will let Mr. Hale know," said Caron Brace, a spokeswoman for the mayor.

She added that Hale had several long term agreements with the city which had expired, or would be expiring, and the city could not grant any more extensions.

Hale made millions in a number of real estate deals, selling some of his land that is now the recently opened Shops at Canton Crossing.

Hale said unlike other developers, he did not seek any kind of special tax breaks for his efforts.

During his interview, Hale also explained that he was not forced out of First Mariner Bank by Priam Capital, which bought 25% of the bank in December, 2011.

Hale said that he sold his shares in the bank because he faced a very large tax bill on profits from a real estate deal.

He acknowledged the bank lost money from mortgages when the housing bubble burst in 2008.

Hale said he did the WBAL interview, along with an interview published Friday in the Baltimore Sun, "to set the record straight."